After the People’s Committee of Dong Nai province issued a decision to suspend the separation of land plots in the area, for more than a month, the real estate market of this province almost has gone into “hibernation”, buyers have found ways to “sale off”, has stopped thousands of unresolved files waiting for new regulations to avoid torn planning.
Market “wobble”, racing “runaway”
The districts of Nhon Trach, Trang Bom and Long Thanh used to be the “stirring” of the Dong Nai real estate market but a month after People’s Committee of this province “tightened” the separation of land plots, these hot spots seemed to be “standstill” and isolated.
Previously in the area of Trang Dai, Tan Phong, Long Binh (Bien Hoa) wards; Thanh Phu Commune, Tianjin (Vinh Cuu); An Vien commune, Giang Dien commune (Trang Bom district); Long Phuoc commune, Tan Hiep (Long Thanh), the both sides of the road bustled offering, marketing, hanging out flyers and banners, etc. scene to catch guests.
Cafes, restaurants, grocers, etc. – cum – real estate brokerage is not blooming as before. Most real estate trading floors are only reselling customers, buyers are showing signs of selling off.
Mrs. Nga, the owner of a restaurant and real estate broker, said that two recent residential plots were sold for $8800/80 sqm plot, paying only 95% of the land value. The transport infrastructure is very beautiful, but nobody has bought yet.
“Dong Nai People’s Committee has just issued a decision to suspend the resolution of the separation of land plots in the area, selling lands off, selling lands at a loss to payback but no one buys them again,” Nga said.
We stopped in Long Thanh district, next to the airy infrastructure project, Mr. Ly, real estate trading floor staff there introduced: This project has customers need to resell the ground 80 sqm with the original price, the purchase will certainly right now. Investors who make the project will move to residential land for customers building houses.
However, according to the research of the reporters, it is a land of perennial trees, not belong to any project and is the land of an individual for infrastructure and then authorize the land and resale it, it isn’t approved for implementing this project.
As a rule, the minimum land area in Long Thanh district is 80 sqm, but this area only applies to the residential land. For the agricultural land, the minimum area of land plots up to 500 sqm.
Tightened the separation of land plots, stopped thousands of files
To rescue the real estate market in this area out of the “virtual spiral”, Dong Nai People’s Committee issued a decision to suspend the resolution of separation of land plots in this area, waiting for the issuance of new regulations to limit the separation. Land plots, transfer overflows difficult to manage in construction.
This decision tightened the separation of land plots and forced a separation of plots to settle on the minimum area depending on each area. Split below 9 land parcels without doing the project, and over 9 plots forced to do the project (before the separation of fewer than 25 plots do not have to do the project).
According to the Land Registration Office of Dong Nai province, more than 5,000 dossiers for land separation have been submitted to the province for review and revision of the new regulations. This rule does not affect the approved projects 1/500 plan, but it makes the sale of land in the people or land subdivision selling background almost “freeze”.
However, as noted by the reporters, many individuals still spleen by applying for a land parcel split into several batches to perform subdivision of the ground. Some localities did not strictly control the illegal construction occurred, the formation of spontaneous residential areas, breaking planning.
According to Mr. Dang Minh Duc, Director of Dong Nai Department of Natural Resources and Environment, the situation of land separation and division in many places in the province has been widespread, from agricultural and non-agricultural land converted to living land.
While pending the issuance of new regulations, the province does not cease to comprehensively but still consider resolving to local people based on the annual land use plan. Those places which have been approved for self-reliant residential areas shall consider the requirements according to the limit permitting the conversion of land use purposes. Other areas that are not included in the land use plan have the right to refuse the transfer of purpose to meet the requirements of economic and social development in accordance with regional planning.
According to economist Le Ba Chi Nhan, the real estate market in Binh Duong and Dong Nai provinces is dominated by residential subdivisions selling the project. This “tightening” situation will not only help the real estate market in these provinces healthier but will certainly help the market cool down. For customers, it is prudent to trade at this time for land not covered by the 1/500 master plan.
Before the situation of “selling” the land collectors, spleen law separating land plots, destroy planning. Department of Natural Resources and Environment of Binh Duong province has just submitted to the provincial People’s Committee draft minimum area separating the “strong” land plot sales division. The draft for the separation of plots for land plots adjacent to the road invested or managed by the State, while the land adjacent to the common path opened by the people strictly prohibit the separation of land plots.
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